Microsoft to cut Xbox 360 20GB price by $50, introduce new model

Microsoft will attempt to boost the sales of its Xbox 360 console by dropping the price of the Xbox 360 20GB model from $349 to $299. X-bit Labs reports the firm will also introduce a new model with a 60GB HDD that will cost $349.

As news-stories at Ars Technica and Hollywood Reporter claim, Microsoft intends to cut the price of the Xbox 360 20GB that now retails for $349 to $299 already this month and also introduce a model with 60GB hard disk drive, which will cost $349. Eventually the 20GB model will be discontinued, according to news-stories that cite anonymous sources.

Earlier this year – in February, March and April – the world’s largest developer of software lowered pricing of its Xbox 360 game console in Japan, Europe and several Asian markets in order to better compete against Nintendo’s Wii and Sony Computer Entertainment Inc.’s PlayStation 3.